DenverCountryBoy
WKR
- Joined
- Jun 17, 2017
- Messages
- 1,272
If it drops significantly, I'll double down.Watch it drop to 5 year lows since I mentioned it. I figured it was a buy below 15. w'ell see. Up after hours yesterday a bit.
I don't think it will go much lower. The fund had a -44% return calendar year 2014 (Crimea). It is already that much off the 52 week high.
The sanctions are targeting banks and individuals, not the underlying commodities. These are not tough, devastating sanctions. Belgium made sure there was a carve out for the diamond trade and Italy requested a carve out for luxury goods. No way they touch energy or food which make up the majority of the fund.
The exchange rate would likely be the biggest driver of any further drop, but the ruble has already been beaten down pretty good by FUD.